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the most amazing number out of the gdp report: personal consumption expenditures declined 3.1%. this is the first decline....

Posted by x (aka dmuck) Oct 30 '08, 06:04

for a quarter in pce since 1991.

Responses:

[deleted] 4
- oh, i think psychologically there's no doubt the market is discounting bad news and is generally in rally mode.... - x Oct 30, 06:25 3
  - It's not like the recession is news........ -- nm - ty97 Oct 30, 06:27 2
    - This is merely numerical proof of what everyone's 'known' for months. - Will Hunting Oct 30, 06:31 1
      - if anyone's paying any real attention they should know that gdp numbers are not "numerical proof" of anything at all... - x Oct 30, 06:38
[deleted]
I have a feeling we're going to see some downer holiday season reports from retailers. -- nm - Don Homer Oct 30, 06:05 14
- there was a wsj story yesterday about panic price cutting on blu-ray players that are overstocked and not moving well at all.... - x Oct 30, 06:13
- Most definitely, and don't be surprised to see a bunch of retailers (like Circuit City) close up shop -- nm - decline Oct 30, 06:06 11
  - Considering Circuit City already has Skadden Arps lined up as bankruptcy counsel, I'd say so - Brian Oct 30, 06:13 9
    - and Linen's and Things just started their liquidation as well -- nm - decline Oct 30, 06:17 8
      - Borders is also in trouble. -- nm - Diva Oct 30, 06:20 7
        
        they send me discounts almost daily. -- nm - Mel Profit Oct 30, 06:24
        
        Jeez, what stores *aren't* in trouble? -- nm - Don Homer Oct 30, 06:20 5
        
        [deleted] 4
        
        walmart's not in trouble, but they have cut back hugely on their spending and expansion.... - x Oct 30, 06:28
        
        Circuit City and Best Buy are the same though. Why would one fail? LNT/BB&B are the same too. - ty97 Oct 30, 06:26 2
        
        I'm sure there are particular reasons why one retailer fails and another similar retailer survives - Brian Oct 30, 06:35
        
        CC failed because it had some of the worst mismanagement in the past 10 years -- nm - decline Oct 30, 06:31
  - in my/your head. -- nm - Diva Oct 30, 06:07
- yep - I'm betting some major retailers will be going out of business shortly after the holiday season as well. -- nm - Diva Oct 30, 06:06

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the most amazing number out of the gdp report: personal consumption expenditures declined 3.1%. this is the first decline....

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